Personal Finance

For those who are looking for personal finance in UAE, Emirates Islamic Bank presents you with the opportunity to enjoy more from life with our personal finance solutions. Now, you don't need to wait to sort your personal finances. Avail our offering and make your dreams come true.

Personal Finance is based on a Murabaha arrangement through trading of Shari'a compliant instruments like Shares or Wakala Certificates. Murabaha is a form of Shari'a compliant sales contract whereby Emirates Islamic (as a seller) sells Nasdaq Certificates to the customer for a price equal to the Murabaha Cost (the finance amount) plus the Murabaha Profit.

Emirates Islamic Personal Finance will get you:

  • Financing available to salaried customers
  • Exclusive policy terms on Personal Finance transfer from other banks
  • Very competitive profit rates
  • Pre-approved Credit Card
Click here to calculate your eligibility.


Be it house rent, school fees assistance, funds for a vacation, home renovation or making a personal purchase, Emirates Islamic Bank's personal finance solution will help you fulfil your personal finances. Avail our personal finance in Dubai, Abu Dhabi or wherever you are based in UAE.

  • High finance amount of up to 2 million for Expats and 4 million for UAE Nationals
  • Low profit rate
  • Flexible, extended repayment periods of up to 4 years
  • Simple, quick approval process
  • Cheaper than Credit Cards
  • Can be used to consolidate all debts into an easy payment plan involving the same instalment every month
  • External credit cards can be paid off for a lower monthly payment
  • No over limit fees or additional charges with a lower profit rate
  • Nominal processing fees
  • Murabaha structure followed
  • Shari'a based product

  • Minimum monthly salary of AED 5,000
  • Length of service - Minimum one month/first salary credit into Emirates Islamic account
  • Minimum age of 21 years
  • Maximum age of 65 for UAE Nationals and 60 for Expatriates at the time of maturity
  • Tenure - 48 months (Standard debt settlement) and 300 months (Special debt settlement)
Terms and conditions apply and are subject to change solely at the Bank's discretion. Trading commission as applied by the broker will be levied to the Customer.


Click here to calculate your eligibility.

In order to apply for Emirates Islamic Bank's personal finance solution, you will need the following documents:

  • Completed application form
  • Copy of valid passport with valid UAE residence visa for expatriates (original required for verification)
  • Last three months bank statements
  • Salary transfer letter / salary certificate (for salaried customers only)
  • Account opening forms for shares trading
  • Liability letter (for buyout cases only)
  • Trade license (for self employed customers)

What is the basis of EI's Personal Finance Murabaha?

The Personal Finance product by Emirates Islamic is a Shari'a compliant solution which is based on the purchase and sale of Nasdaq Certificates.

What are Nasdaq Certificates?

Nasdaq Certificates are Shari'a compliant electronic certificates listed in the Nasdaq Dubai exchange. The value of each certificate is USD 10/-.

Nasdaq Certificates represent a common share in Shari'a compliant assets, e.g. sukuks, equity, real-estate assets etc.

What is Murabaha in Personal Finance?

Murabaha is a form of Shari'a compliant sale contract whereby EI (as a seller) sells Nasdaq Certificates to the customer for a price equal to the Murabaha Cost (the finance amount) plus the Murabaha Profit.

What happens after Murabaha Sale?

    Once the Murabaha Sale is executed the Customer then has 2 options:
  • Option 1: Advise us of your custody account number with EIFB to which the Financing Asset will be transferred upon completion of the Murabaha Contract; or
  • Option 2: To authorize EIFB to sell the Financing Asset to a third party on your behalf and transfer the sale proceeds thereof into your account with EI.
The Customer has full liberty to choose any of the above 2 options to complete the trading process. If any of the options are not chosen by the customer, trading will be cancelled and funds will be disbursed.

Note: In order to get the funds, Customer has to opt for option 2.

Here's a quick and easy way to calculate your monthly repayment amount. Simply adjust the criteria in our personal finance calculator and you can see the amount that you would have to pay.

Calculator

Finance Amount AED
Min AED 50000
Max AED 500000
Tenure (Months) Months
  • 6
  • 60
Profit Rate (% p.a. flat)


Monthly Payment (AED):  

* Terms and conditions apply
Interest rates vary by Tenure & subject to bank policy
Finance Amount AED
Min AED 50000
Max AED 500000
Tenure (Months) Months
  • 6
  • 60


*Please note these numbers are indicative only and are subject to change. Emirates Islamic Terms and Conditions Apply.

*Trading commission as applied by the broker will be charged to the customer. Emirates Islamic Terms and Conditions Apply.


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